BLR’s annual Pay Budget Survey indicates modest changes in pay increases for 2013 and 2014.
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The survey also reported on the biggest challenges employers are facing. The wage-related issues survey participants expect to have at the end of 2014 include trying to keep up with competitors’ wage rates for 27 percent and dealing with budget constraints for 24 percent.
Another 12 percent expect that retaining employees who are still receiving low pay may be a concern. The impact of the Affordable Care Act and rising benefits costs will be an issue for 13 percent.
A total of 696 organizations participated in this survey, which was conducted in June 2013.
Download the survey summary. (Available to Compensation.BLR.com subscribers and trial members.)